Core Viewpoint - LightPath Technologies has announced the acquisition of G5 Infrared, enhancing its position in the infrared imaging market and creating a vertically integrated optics leader [1][4][10]. Acquisition Summary and Strategic Rationale - G5 Infrared, founded in 2011, specializes in high-performance infrared camera systems, focusing on defense and security applications [3]. - The acquisition is expected to generate at least $55 million in revenue within 12 months post-acquisition, driven by G5's existing contracts and growth pipeline [4][7]. - G5's advanced thermal imaging technology complements LightPath's existing product offerings, particularly in long-range and short-range imaging applications [6][10]. Financial Aspects - The total consideration for the acquisition is $27 million, comprising $20.25 million in cash and $6.75 million in common shares, with potential performance-based additional payments [8][9]. - Financing for the acquisition includes private placements totaling $25.5 million and other financial instruments, positioning the company for stronger cash flow post-transaction [9]. Market Position and Growth Potential - The combined entity aims to capture a significant share of the $9 billion infrared imaging market, with a strategic vision for long-term revenue growth exceeding 20% and EBITDA margins above 15% [7][11]. - The integration of G5's cooled infrared camera products with LightPath's uncooled cameras is expected to enhance the product portfolio and meet growing demand in both defense and commercial sectors [6][10]. Management Commentary - Management views the acquisition as transformative, enhancing capabilities in high-performance imaging solutions and providing visibility into robust near-term revenue growth [10][11]. - The acquisition aligns with the broader M&A strategy to expand market reach and product offerings, focusing on innovation and operational excellence [11][12].

ORLANDO, Fla., Jan. 30, 2025 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced it will release financial results for the fiscal second quarter ended December 31, 2024 after market close on February 13, 2025. Management will host an investor conference call at 5:00 p.m. Eastern time on Thursday, February 13, 2025 to discuss the Company ...

LightPath Technologies, Inc. (NASDAQ: LPTH ) is a micro-cap, global company that manufactures, distributes, and integrates its own optical components and high-level assemblies. It was founded back in 1985 and is based in Orlando, Florida—right in my home state. In simple terms,The mission of Grassroots Trading rests on the following principles: providing objective, unbiased, and balanced research, backed by solid data and completely void of emotional influences or preference for companies; focusing on small ...

Company to Host One-on-One Investor Meetings at the 27th Annual Needham Growth Conference and the Sequire Investor Summit Puerto Rico ORLANDO, Fla., Jan. 15, 2025 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced that management will participate in two prominent investor conferences in early 2025: the 27th Annual Needham Growth Confe ...

FPV Drone Infrared Lens Assemblies for European Defense Customer Expected to Drive $1.0-2.0 Million in Revenue in Calendar Year 2025 ORLANDO, Fla., Dec. 23, 2024 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced that it has begun sustained delivery of infrared lens assemblies per the terms of the October 2024 Letter of Intent ("LOI") ...

ORLANDO, Fla., Dec. 17, 2024 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today issued a letter to shareholders from its President and Chief Executive Officer, Sam Rubin. Dear Shareholders, 2024 was a transformational year for LightPath, evolving from a pure component supplier to a leading provider of high-value, next-generation optics and imagi ...

New OGI Camera Detects Fugitive Ammonia and Sulfur Hexafluoride (SF6) Emissions at Industrial and Manufacturing FacilitiesNon-Germanium Based Solution Insulates LightPath Customers from China's Recent Ban on Germanium Exports to the United StatesORLANDO, Fla., Dec. 5, 2024 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced a new versio ...

Financial Data and Key Metrics - Revenue for Q1 2025 increased by 4% to $8.4 million compared to $8.1 million in the same quarter last year [33] - Gross profit increased by 22% to $2.8 million, representing 34% of total revenue, up from 29% in the prior year [34] - Operating expenses rose by 23% to $3.3 million, driven by increased legal and consulting fees related to business development initiatives [35] - Net loss for the quarter was $1.6 million, or $0.04 per share, compared to a net loss of $1.3 million, or $0.04 per share, in the same quarter last year [36] - EBITDA loss for the quarter was $0.5 million, compared to a loss of $0.4 million in the prior year [37] - Cash and cash equivalents stood at $4.3 million as of September 30, 2024, up from $3.5 million as of June 30, 2024 [38] - Total debt was $3.9 million, and backlog totaled $21 million as of September 30, 2024 [38] Business Line Data and Key Metrics - Infrared components accounted for $2.6 million or 31% of total revenue [33] - Visible components contributed $3.3 million or 39% of total revenue [33] - Assemblies and modules generated $1.1 million or 13% of total revenue [33] - Engineering services revenue was $1.4 million or 17% of total revenue [33] - The company's transformation from a component supplier to a system provider has resulted in 30% of revenue coming from system-level solutions, up from a negligible amount prior to the strategic shift [10] Market Data and Key Metrics - Defense-related sales accounted for over 30% of total revenue, with most coming from the US market [17] - The European defense market is emerging as a growth opportunity, with recent wins in Europe validating the company's strategy [16][17] - The company expects significant growth in the European defense market, with some customers potentially becoming 10% customers [17] - The total addressable market (TAM) for thermal cameras is estimated at $9 billion and growing rapidly [18] Company Strategy and Industry Competition - The company's growth strategy is built on three pillars: proprietary cameras and optics, government and defense solutions, and new commercial applications [8] - The company is leveraging its proprietary BlackDiamond materials to replace Germanium in defense applications, with Phase 2 funding from the DoD to qualify additional materials [13][15] - The Lockheed Martin missile program represents a transformative opportunity, with potential annual revenues of $50 million to $100 million if Lockheed wins against Raytheon [26] - The company is also targeting the automotive market, particularly in thermal imaging for ADAS systems, driven by new NHTSA mandates [29] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's transformation and growth trajectory, citing strong progress in defense, automotive, and camera solutions markets [40] - The company is well-positioned to capitalize on the growing demand for thermal imaging in both defense and commercial applications [18][29] - Management highlighted the potential for significant growth in the European defense market, driven by recent wins and the acquisition of a European defense license [17] - The company is focused on scaling production capabilities to meet increasing demand, particularly in defense and industrial applications [30] Other Important Information - The company recently launched a new Optical Gas Imaging (OGI) camera platform for detecting fugitive gas emissions in the oil and gas industry [22] - The company has integrated Visimid Technologies' expertise to develop advanced thermal cameras and imaging systems, creating a strong entry point in the system-level product market [18] - The company has achieved airworthy qualification for its subsystem in the Lockheed Martin missile program and is preparing for low-rate initial production [25] Q&A Session Summary Question: European Market Traction and Timeline for 10% Customers - The European defense market follows a similar timeline to the US, with large programs typically taking up to two years to move from development to production [42] - The FPV drone application is an exception, with faster adoption due to the use of commercial solutions [44] - The sales team in Europe is strong, but local partners may be needed in certain countries [45] Question: Lockheed Martin Program Timeline - The Lockheed Martin program is progressing rapidly, with airworthy qualification achieved and flight tests underway [46] - The timeline for the Lockheed decision remains fluid, with indications expected around September or October 2025 [46] Question: Camera Business Growth and Backlog - The camera business is expected to see strong growth in the second half of the fiscal year, driven by new product launches and customer budget cycles [48][49] - The backlog is flat year-over-year, but this reflects growth in other businesses after the loss of a major customer [66] Question: Gross Margins on Large Defense Contracts - Gross margins on large defense contracts are expected to be between 30% to 40%, driven by government accounting standards [56] Question: Industrial Camera Go-to-Market Strategy - The company has strengthened its go-to-market strategy for industrial cameras, with early traction seen in the oil and gas sector [70][71] - The company expects to see significant revenue growth from industrial cameras as customer budgets take effect in January 2025 [72] Question: Apache Modernization and Space Applications - The company is involved in modernization programs for platforms like the Apache helicopter, though specific details on contracts like Project Longbow were not disclosed [74] - The company is not directly involved in space collision avoidance systems but may be indirectly involved through LiDAR customers [81]

LightPath Technologies, Inc. (LPTH) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this company would post a loss of $0.04 per share when it actually produced a loss of $0.06, delivering a surprise of -50%.Over the last four quarters, the company has ...

EX-99.1 2 lpth_ex991.htm PRESS RELEASE EXHIBIT 99.1 LightPath Technologies Reports First Quarter Fiscal 2025 Financial Results ORLANDO, FL – November 7, 2024 – LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced financial results for its fiscal 2025 first quarter ended September 30, 2024. Financial Summary: | --- | --- | --- | --- | --- | --- | |------ ...